Technology is continuously evolving and with digital advertising being so fast-paced, Artificial Intelligence (AI) has become a central focus. Having the ability to pull the levers and push all the buttons as a digital media buyer is important, but having AI at your disposal makes for more accurate and thorough data-driven analysis and optimization. So, with this shift from manual work to a more automated environment, it’s important to understand what AI is, how it benefits you, and how to be sure your technology partners are using it appropriately – if at all.
What is AI?
AI is defined as “the capability of a machine to imitate intelligent human behaviour”. Basically, AI takes the human emotions we all have out of the equation, to analyze data and make decisions. Humans are, by nature, emotional. We have good days and bad days, we can be distracted, we can get too caught up in tactics that we miss opportunities, we can even be overwhelmed with the amount of options we have to choose from, and all of these human emotions can cause us to work slower and make mistakes. AI mimics our behaviour, while eliminating the emotion behind our analyzing and decision making, and does so without bias. This can speed up workflows, improve accuracy and even discover new markets.
What are the Benefits of AI?
Deloitte conducted a study where 1,100 early AI adopters were surveyed and 82% report a positive return on investment for their AI initiatives. Advertisers can benefit greatly from AI and machine learning, which occurs as a result of the proper implementation of AI. When it comes to the advertising landscape in particular, knowing your audience is of paramount importance. There are so many data sources that help inform digital advertising – 90% of advertisers use some type of online data to target their ads, and in 2018, advertisers used an average of 5.6 data sources – which results in a lot of data.
Sifting through and understanding all of these data points can become very overwhelming. AI can help make sense of all this data and either provide optimization suggestions, or make adjustments behind the scenes to improve performance. Recommendations on who to target, which creatives perform best for which target demographic, understanding the behaviour of your target audience and how they interact with your ads, the best time to serve your ads – AI will assist in all of this, and more. There is so much information and optimization available through the use of AI, the benefits are endless. The hard part? Figuring out if your demand-side platform (DSP) is using really using it.
Is Your DSP Really Using AI?
You’ve been given the definition, and hopefully, you see some benefit to using AI – now you need to ensure it is available in the technology you use. In the Global Digital Outlook 2019 Report from SoDA, 56% of agency leaders and client-side marketing leaders believe that AI technology will significantly impact the way they plan for and design customer interactions. AI seems to be offering a new hope for both client and agency leaders. There is no standard in marketing to know how we should and shouldn’t be using AI. There is no benchmark, or test to perform, to know whether your DSP is using it in the best way possible, or at all. There are, however, key questions and inquiries you can ask your technology partners to ensure they are using AI in the best way possible – or even challenge them to improve!
On Monday, April 29 at 9:30am, our CTO and Co-Founder, Yang Han will be presenting at Programmatic I/O. Yang will be presenting: Are your campaigns really using AI? 10 Questions to ask your DSP. These questions cover everything from accuracy and optimization to how AI is trained. It’s a can’t miss presentation so be sure you join us on the main stage!
See you there!